Assume that in a perfectly competitive environment there are five firms competing with each other's. The cost curves of each firm are given by the following equations:

By assuming P = 100 - 0.20Q is the industry demand function

C_i=i Q_i²where i= 1, 2 ,...,n

5

and 1/_i =30 also ₁ * ₂ *....* n =1/4

i=1

Drive the long-run equilibrium of the firm and industry. How many firms will be present in the industry in the long-run?